Silver Valley Metals Announces Option to Acquire Page Mine and Surrounding Potential Properties in Silver Valley, Idaho

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  • Top Ten Historic Growers in the Silver Valley, Coeur d’Alene District, Idaho

  • Over a billion pounds of zinc and lead and 14.6 million ounces of silver mined to date

  • High-grade in situ historical resources defined

  • Consolidation of the western end of the Silver Valley mining corridor

  • Patent claims

  • No RSN

  • Significant exploration opportunity

Vancouver, British Columbia – November 18, 2021 – Silver Valley Metals (“Silver Valley” or “the Company”) (TSX-V: SILV / FSE: L3U / OTC: BNRJF) is pleased to announce the signing of an option to acquire the Page mine and more specifically , the prolific Tony Veine, as well as a set of prospective lands rich in exploration potential. The project is contiguous to the west and south of the company’s Ranger-Page project, which for the first time brings together under a single operator the western end of the Silver Valley mining corridor. The Page mine and area comprises 49 patented mineral claims totaling 802 hectares located approximately 60 kilometers east of Coeur d’Alene, Idaho. The aggregate of concessions triples the size of the company’s Silver Valley project area. (see Claim group – West extension)

President and CEO Brandon Rook said, “The option to acquire the Page Mine and its surrounding land complex is an important transaction for Silver Valley at this early stage in the company’s growth. Through this minimal dilutive transaction, the company can allocate its cash resources to exploration focusing on the two projects in one. With a shared underground infrastructure connecting the Page mine with the five shallower mines of our neighbors Ranger-PageThe Project, the Company will develop an exploration plan that will target the mineralization closest to the surface at the east end of the project (Crown Point, Ranger, Wyoming) with the mineralization at Blackhawk (350 meters below elevation) located in the central project area and west to the deeper historic Tony Vein resources at the Page mine. This despite the potential for new discoveries, as the entire project area has never been the subject of modern geological exploration. “(See: Patent Claims – Underground MiningandClaims map)

The Page mine operated from 1916 to 1917 and 1926 to 1969, closing due to a devastating fire and subsequently was never reopened due to the area being closed due to the Superfund. Previous environmental issues have now been resolved and the area is once again open for exploration and mining.

Formerly owned by American Smelting & Refining Company LLC (“ASARCO”), the Tony Vein operated over a vertical reach of 2,644 feet (level 3400). The Page mine produced approximately 1.1 billion pounds zinc and lead and 14.6 million ounces silver. The page ranks among the the ten best producers in the Coeur d’Alene mining district. ASARCO geologists speculated that the Tony vein at the Page mine was well mineralized at the 3400 level and remains open at depth.

Important in situ historic resources have been identified and are as follows:

Tons

Silver (g / t)

Silver (oz)

Zinc (%)

Zinc (lb)

Lead (%)

Lead (lb)

Equiv. silver (g / t) *

Equiv. silver (oz) *

Equiv. zinc Class (%) *

Equiv. zinc (Kg) *

218,000

87.4

555,727

10.34

45 082 400

5.22

22 759 200

599

3,810,380

16.8

73 276 540

* Equiv. money. and equiv. zinc. assumptions: silver price (Ag) US $ 25.00 / oz, zinc price (Zn) US $ 1.30 / lb, lead price (Pb) US $ 1.00 / lb ** Source: United States Geological Survey (USGS) Mine Page – https: //mrdata.usgs.gov/mrds/show-mrds.php?dep_id=10073450

Historic resources are not what is left in the mine but rather define what ASARCO has described for the next steps during operations. It is very well established that mineralization in the district extends to great depths far beyond what has been mined at Page to date.

Conditions of the operation:

The rental and option to acquire 100% of the mining rights of the Page are as follows:

  1. Duration: 10 years

  2. Year 1: $ 60,000 USD

  3. Year 2 – 10: USD 30,000 per year

  4. To purchase 100% of the PATENTED mining rights of the project Page: 1,500,000 USD

  5. All lease payments will be credited to the purchase price of the option

  6. No royalties

For more information, please visit the company’s website at www.silvervalleymetals.com

Qualified person

Timothy Mosey, B.Sc., M.Sc., SME, is the Qualified Person (“QP”) for the Company and the Qualified Person as defined by National Instrument (“NI” 43-101). Mr. Mosey has overseen the preparation of the technical information contained in this press release.

About Silver Valley Metals Corp.

Silver Valley Metals is a brownfield exploration company focused on its flagship Ranger-Page project located in Idaho’s prolific Silver Valley, 60 kilometers east of Coeur d’Alene and 1 kilometer from the I-90 freeway. Idaho was ranked 9the best mining jurisdiction in the world in 2020 (Fraser Institute 2020 Annual Mining Survey). The project is strategically located on the edge of two large mines, Bunker Hill to the east and Page to the west. Five historic mines are on the project with underground mining data and surface geological data supporting high grade silver-zinc-lead mineralization present in shallow and undeveloped mines. These mines remain open at depth and laterally along strike, without any modern systematic exploration being applied to the Project.

The Company also owns a 100% interest in a salt complex containing lithium and potassium comprising 4,059 hectares on three mining concessions (the “Mexican projects”) located on the central plateau of Mexico in the states of Zacatecas and San Luis Potosi, Mexico. The NI 43-101 inferred mineral resource contains 12.3 Mt of potassium sulphate (SOP) and 243,000 tonnes of lithium carbonate equivalent (LCE) and remains open in all directions for expansion. The Company is led by an experienced group of mining, financing and exploration specialists.

On behalf of the Board of Directors of Silver Valley Metals,

“Brandon Rook”

Brandon Rook, President and CEO, Director

For more information please contact us at:

604-800-4710

info@silvervalleymetals.com

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS COMMUNICATION.

The information contained in this document contains “forward-looking statements” within the meaning of applicable securities legislation. Forward-looking statements relate to information based on management’s assumptions, forecasts of future results and estimates of amounts not yet determinable. All statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be “forward-looking statements”. Forward-looking statements are subject to a variety of risks and uncertainties that could cause actual events or results to differ from those reflected in forward-looking statements, including, without limitation: inability to secure adequate funding on a timely basis and on acceptable terms; risks associated with the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks associated with maintaining stock market listings; risks related to environmental regulations and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; uncertainty of profitability; risks and uncertainties associated with the interpretation of drilling results, geology, grade and continuity of mineral deposits; risks associated with the inherent uncertainty of production and cost estimates and the potential for unanticipated costs and expenses; the results of pre-feasibility and feasibility studies, and the possibility that future exploration, development or mining results may not meet the Company’s expectations; risks associated with fluctuations in commodity prices; and other risks and uncertainties relating to the prospects, properties and operations of the Company detailed elsewhere in the Company’s disclosure file. If one or more of these risks and uncertainties materialize, or if the underlying assumptions prove to be incorrect, actual results could differ materially from those described in forward-looking statements. Investors are cautioned against assigning undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company assumes no obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company’s expectations or projections.

Disclaimer

Silver Valley Metal Society published this content on November 18, 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on November 18, 2021 01:12:05 PM UTC.

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